Hello Guest, if you are reading this it means you have not registered yet. Please take a second, Click here to register, and in a few simple steps you will be able to enjoy all the many features of our fine community. Note that lewd or meaningless nicknames are prohibited (no numbers or letters at random) and please introduce yourself in the section for you to meet our community.

Luck – the force of good or bad governed by circumstances and events; a crossroad where opportunity stumbles on intelligence. In my experience luck is persistent, meaning that it influences more than one area of your life. This made me think whether luck plays any significant role in forex trading. Do lucky individuals craft more profit than other professional forex traders? Online forex trading touches many aspects of human behavior and instincts. A professional trader needs to know when to give up, be able to go all the way without blinking, make decisions and follow the strategy plan, be persistent and believe in yourself, take actions and show initiative, prepare for the daily battle and keep yourself from going mental! As for being lucky, in my opinion, it is quite hard to find a successful trader who isn’t overall successful in other fields of life. In order to be victorious you need to have a certain personality which allows you to reach an excellence not only in forex trading, but in other things presented to you by chance. It doesn’t mean that you cannot create your own “luck”. Human brain is a muscle which requires regular exercise. If you consider yourself “unlucky”, it is still possible to change your destiny by building excellence in one area which fascinates you the most at the moment. With time you will notice that the success spreads over to other areas of your life as well. The right mental state of mind, expectations and actions, eagerness to learn and practice, except the mistakes as a part of educational process – all are the key to your “luck” in forex trading. Having a positive attitude and actually doing something out of inspiration more likely to lead to success, or in other words “luck”, than sitting around waiting and complaining how tough world is and how dumb is Paris Hilton! When you make your own success, “luck” turns into something expected, proven, achievable. Statistically speaking, it is no longer a “random” touch of good life. On the other hand, there are events in forex trading which are outside your control but turn out to be a good catch. For example, let’s say, you have just started forex trading. Your knowledge is limited to basics and you don’t quite understand the tricks yet. What we normally refer to beginners luck can actually be a deadly poison. Couple of “lucky” wins can give a newbie an illusion of control and therefore turn to “bad luck” later on in the trading career. In my opinion, it is better to experience the “unlucky” losses as soon as you start forex trading in order to figure out a correct money management strategy. Money management is overlooked by many, but it gives you ability to flow with the good luck wave and shut the door to the “unlucky” decisions. Lucky traders are skilled at creating and noticing opportunities, taking actions and listening to the intuition, holding on to positive expectations and adopting flexible approaches which transforms bad luck into success. "Luck" presents itself to all of us in one form to another. It is your responsibility to embrace the opportunity and make the most of it. Many of us, perhaps most of us, don't even see them when they are under our noses. Sometimes it is simply difficult to acknowledge that luck is involved. When you have a trading plan and strategies it is natural to assume that the profit was made because of those genius ideas. I have also noticed that when traders lose, most of them blame it on bad luck. However, when there are winning trades, somehow luck is no longer a reason for success. In my opinion, luck plays it’s role, whether good or bad, in forex trading. Things happen, both beyond our control and outside one’s knowledge, which nevertheless influence the trading. Lastly, here is couple of points to inject luck into your life:

Believe in yourself and trust your instincts – they are usually right on track.

Every day reflect on things that went well.

Before making an important decision, whether related to forex or not, imagine yourself being lucky. Stand in front of the mirror and tell yourself how lucky you are. After all, luck is often a self-fulfilling insight.

Embrace new experiences and break the usual routine. Say “Yes” to things you would normally refuse.

Work on your success – even if the steps you are making are small, they are still steps forward.

International foreign exchange market has high possibility of witnessing big swings in 2019 due to instable economic fundamentals in the world, political uncertainties, and impacts from equity, bond and commodity markets, according to a senior trader with the New York Branch of Bank of China (BoC).Economic issues like fiscal problems in Italy and other European countries, possible exit of quantitative easing in Europe, deceleration of economic growth in multiple countries and political risks rising from challenged independence of U.S. Federal Reserve, Brexit, change of leadership in Germany, social unrest in France, proposed establishment of united European army and possible U.S. withdrawal from Intermediate-Range Nuclear Forces Treaty would have material impacts on the foreign exchange market, said Liu Zhidan, senior vice president and head of treasury department of the bank branch.Speaking in an exclusive interview with Xinhua on Friday, Liu said the performance of U.S. dollar index in 2019 would see some changes in comparison with those in 2018 amid double-way movement of equity and bonds markets and other overseas developments.Liu noted that significant appreciation of U.S. dollars would hurt U.S. economy and overly strong U.S. dollar would not be conductive to reduction of foreign trade deficit.In the near term, U.S. dollar does not have the same room of rise seen in 2018 given retreat of stock markets, big swings of crude oil prices and the latest economic indicators, according to Liu.Joining in the trading desk of Bank of China as early as 1994, Liu said the current U.S. dollar index is not very high in the perspective of 10-year cycle.However, U.S. dollar index could see a new round of growth in 2019 if U.S. economy posted outstanding numbers in consumer expenditure, employment and others and U.S. foreign trade deficit dropped significantly in the year.Liu expected that the exchange rate of U.S. dollar against Chinese yuan would continue to see two-way movements and yuan does not have high possibility of depreciation against U.S. dollar in 2019 with development trends hinging on economic growth in the two countries.The exchange rate of Japanese yen and Swiss franc against U.S. dollar would maintain stability without big fluctuations in 2019 as the two currencies remain attractive as safe heavens, according to Liu.Liu said euro is unlikely to gain strength in 2019 and could see slight depreciation as Brexit, fiscal problems in Italy, rising populism in Europe and diverging fiscal and monetary policy dynamics among European countries weigh on euro."If Breixt sees positive developments in March 2019, British pound would gain support. Even Brexit has neutral outcome, British pound also would see pressure to appreciate thanks to technical requirements," said Liu.Liu suggested individuals and enterprises to hedge risks from interest rates and foreign exchange and stick to conservatism rather than betting against chances.Statistics show that U.S. dollar index went through roughly single-sided rise and registered 4.64 percent growth so far this year with 52-week high of 97.711.

Bitcoin has been a roller coaster ride for traders since its inception and had definitely become iconic in 2018. Some feel cheated due to the booms and busts that occurred this year, potentially scaring away investment in the upcoming year.
Those that dislike the volatility, legal implications of Bitcoin and the black market behind it, traditional investment institutions are the way to go. In particular, Forex has a promising outlook for 2019.Volatility

Volatility is certainly present in both Bitcoin and fiat currencies and it may be taken advantage of for those who love to short. The problem with Bitcoin is that it suffers from extreme volatility that cannot be compared with government-backed currencies and the market is still in its infancy. If you don’t want to be waking up in the middle of the night, worried about another crash happening in another timezone, Forex may seem less burdensome.
When following forex news live to determine potential profit margins, you trading may seem a whole lot more predictable when trading. This is assuming that you are not trading currency pairs from volatile developing countries.There Is Always Something New Around The Corner

Unlike established international currencies, there is constant innovation happening in the blockchain world. Bitcoin is so severely outdated that it seems illogical why the market is mostly consolidated in something so inefficient.
If a trader wants speed, There is nothing comparable to Ripple. If you want advanced smart contracts, Ethereum, NEO and several other currencies have it implemented while Bitcoin does not. It doesn’t take a genius to predict that Bitcoin may no longer be desired and another cryptocurrency will soak up the market cap.Trading Safety

The forex market definitely has its share of shady dealers, but it isn’t comparable to what you will find in the world of Bitcoin. Fake exchanges, Bitcoin wallets, and investment services pop up all the time to steal the funds of the unsuspecting. The worst part is that the unregulated nature of cryptocurrency easily allows criminals to get away with it.Mt. Gox was one of the most reputable exchanges during the early years of cryptocurrency trading yet it still became insolvent and lost over $500 million in customer funds. Since then, users are always leery when using exchanges and are quick to transfer their funds to a “cold wallet”
In addition to thieves, one may also use their Bitcoin fortunes due to user errors. With traditional financial accounts, funds are kept in their account and a user may contact customer support if there is an issue. With Bitcoin, simply sending funds to the wrong address, deleting a wallet file or losing your encryption password is enough to lose everything.Accessibility

The fortunate part about Bitcoin trading is that it is without borders, time zones or restrictions. Anyone can create a wallet, whether online or offline and purchase cryptocurrency using cash, debit card or even mining it from their computer. Technically speaking, you may not even need to show your identification nor need a bank account to start trading.Forex still requires an investor to be somewhat “on the grid” to get into. Not only are you likely to need identification and a bank account. In addition, brokers may have minimum deposit amounts that may be above your level of comfort.Conclusion

Forex is simply a more well-established industry while Bitcoin is so young that nobody can expect predictable results in 2019. Having said that, both Forex and Bitcoin have its risks and plenty of traders have lost their savings in both markets. Take most bullish news stories with a grain of salt and do your research if you get into either.

Forex (FX) is an excellent market for professional traders, where you can trade with tremendous ease of access. This article is designed to provide you with the most valuable data on the FX market, and to uncover the secrets that brokers might sometimes keep to themselves.
We will provide the basic information that is vital for your tradingjourney, but not necessarily related to actually trading - because failing to use this information would certainly make your trading career harder. Afterwards we will examine the secrets that are actually related to trading.
Often a beginner will start trading Forex online and search for information that will help them to advance in trading, and that will assist them in developing their own trading strategy. There are certainly many websites available that lure novices into thinking that Forex is simple and easy, and that you can make thousands of dollars per day with almost no risk or knowledge. One of the main secrets of trading Forex is that this is certainly not true. It takes lots of experience, practice, and trial and error to become successful in this market.

Many Traders Fail to Achieve Profit

Believe it or not, around 80% of retail Forex traders are actually losing money when trading Forex. Why? The main reason is that these traders are not prepared to trade on high volatilityperiods, and that they tend to be too greedy. What is important to understand is that while 80% (or more) of traders are losing on their accounts, the remaining 20% of traders are able to benefit from their mistakes.
When it comes to trading FX online, you should not be too optimistic. However, you shouldof course start trading with the aim of achieving a profit, but your profit target should also be realistic. What is a realistic profit target? In rare cases your return should be no higher than 5% a month, usually anything below 5% is realistic. Not being greedy and being realistic are some one of the most important secrets of currency trading.Do Not Trust Signal Providers

There are many websites that will claim to supply you with various signals, and automated trading systems that can achieve extensive profits over a short amount of time, or even indicators that predict market moves with 100% certainty. One of the main Forex secrets is that the majority of these systems don't actually work. They have been developed by marketers, and are designed to sell, and not work. Once you have paid for the signals or automated software, you will not be able to get your money back ,and such tools would hardly bring you any profit.
Of course there are decent providers, yet they are quite hard to find. The main idea is to keep looking for the people who have a proven track of record that is counted in years, not weeks. Besides that, whenever it comes to trading that isn't based on your own decisions, you should still have a good understanding of why such trading decisions are taken. Blind following of some trader or system isn't going to be profitable for you.Forex Trading Secrets Revealed

Now let's take a look at the secrets that are actually applicable to actual trading. The information below will assist you in optimising and calibrating your Forex trading strategy, if you already have one. It will also be helpful for traders that are still defining their trading style, and are aiming to just try things out.Chart Clearance

Once a trader begins to operate in the FX market, they often look into adding an extensive amount of indicators, and may then start to believe that these indicators have some type of meaning. This approach isn't feasible. The most important and practical trick from the currency trading secrets is to keep your chart clear. This of course does not mean that you should avoid the placement of the technical indicators and oscillators, it just means that every indicator on your chart should have a clear purpose and aim.Transparent Justification of Trades

Whenever a day trader analyses the market for opportunities, they may get bored of regular analysis if there isn't enough action. This may often trigger trades based on belief, rather than the strategy and the vision of the trader. Usually such trades result in negative trading results, and this is why they should be avoided.
It is vital to understand that your main activity as a trader is to analyse the market and develop a strategy. Opening and closing orders should just be treated as an execution that is always performed without any emotion. All of your trades should open according to your system and analysis conducted beforehand, this is one of the most important Forex trading secrets.Conclusion

Trading Forex is a great process that should only be started with the mindset of achieving profit. It is important to set realistic targets for yourself, as overly optimistic aims could simply leave you without any funds on your trading account. It is also important to choose a trustworthy, reliable broker, and a suitable trading account, as this will be a big indication of your success in this market. When it comes to actual trading, you should mostly focus on understanding what you are doing and having a clear overview of your chart. Reducing the redundant activities in your trading and on your chart is a key element in becoming a successful trader.

Forex, or foreign exchange, market is probably the best market to trade in 2019.
Traders are always looking for the best conditions, best technological infrastructure, and highest returns. And millions of traders find it all inforex market. No surprise that it is the largest financial market with $250 billion of daily turnover contributed only by retail traders. But what does make forex so attractive for traders? FXM Capital analyzed experience of hundreds of traders and found why forex is the best market to trade.
AccessibilityForex easily beats any other online trading market in terms of accessibility. You can start trading forex with a comparatively small initial investment. For example, with FXM Capital you need as little as $250 initial deposit to get started. Traders can access global currency markets 24/5 from any country and using any device. You only need to pass a short registration, make your first deposit, and submit your documents, and you are ready to enter your first trade.
FXM Capital CEO Brian Carter,financial markets expert with more than 15 years of experience in the industry, particularly emphasizes accessibility of forex trading. Here is what he shared about the topic.
Are your clients mostly experienced in trading or is there also an interest in forex among newbies?
Experienced traders make up less than half of our clients, and beginner traders come to us every day. It is truly inspiring to see such interest inforex market among newbies, and we strive to make forex trading accessible for everyone.
Is it difficult to start trading forex? What do you need to become a successful trader?
It is very easy to start trading forex. You can open an account, fund it, and make your first trade in less than an hour. However, it will most likely be a failure if you get started without any preparation. To become successful, you need at least to learn the basics of trading and build a reliable trading plan.
In some financial markets, one can make money without any knowledge and experience. For example, you can hire an investment manager to build an investment portfolio for you. Is there a similar opportunity in forex?
It is not a must to manage your trades by yourself. In forex, you can useservices of a trading advisor who will manage trades for you. Besides, automated trading is also very popular in the market. Our clients can use our highly efficient automated trading systems without additional charges. Finally, forex is a very social market, so you can follow successful traders in various trading networks and copy their trades. In this aspect, forex is very open and beginner-friendly.
Volatility & Liquidity
Naturally, trading implies buying and selling an asset to benefit fromprice difference. Therefore, market volatility is the source of profit for traders. In forex market, volatility is great, and significant price moves can occur within minutes or even seconds. In addition, forex is the most liquid financial market due to its massive turnover (more than $5 trillion daily). It means that the market is full of opportunities to make profits.
Opportunity
Traditionally, traders make money by buying low and selling high. In forex, you can trade in both directions. To take advantage of a downward trend, currency traders goshort, or sell assets without owning them. Small trading capital is not a problem as well. For example, FXM Capital offers up to 1:500 leverage completely free. So in forex, you can benefit from virtually any market situation and easily scale up your returns.
Technology
Online forex market is a technologically advanced sector. The industry-leading MT5 platform is an extremely powerful trading workplace with all necessary tools gathered in one place. Now forex trading is more accessible than ever, as you can manage your trades in a single click anywhere, anytime, from any device. Advanced built-in market analysis tools, performance reports, strategy testers, and automated trading advisors make forex the best choice for beginners.

BonusesForexbrokers offer a number of lucrative incentives and promotions. At FXM Capital, you get rewarded with an up to 100% welcome bonus on your first deposit for a comfortable start. Additionally, for every trade you make you get tokens that can be converted into exclusive benefits.
CommunitiesForex is the largest and the most social market to trade. Currency trading community includes millions of people, and you can easily connect with fellow traders via specialized networks and forums. If you experience any difficulties or hesitate with a trading decision, you can always get help from experts, educators, successful traders, and critics completely free.
Beginners’ SupportForex is easily accessible in part due tostrong support of beginners. Retail forex trading has no entry barriers, and a lot of new traders open accounts every day. Forexbrokers provide step-by-step assistance for newcomers and help open an account and set up a trading platform. FXM Capital also offers individual consultations with experienced market professionals and a wide variety of educational materials.Forex trading is an exciting activity with numerous benefits. It is not only a chance to make significantprofits, but also an opportunity to better understand global economy and sharpen skills.

The Chinese yuan gained on Monday in Asia even after official data showing that China’s industrial profits fell for the second straight month in December. The U.S. dollar traded slightly lower amid dovish Fed expectations.USD/CNY was down 0.1% to 6.7374 at 1:21 AM ET (06:21 GMT). The gain in the yuan came even after the National Bureau of Statistics reported earlier that profits of big Chinese industrial companies fell 1.9% year-on-year in December to 680.83 billion yuan ($100.94 billion).In November, industrial profits declined 1.8% from a year earlier. It was the first contraction in profits in nearly three years.For the full year of 2018, China's industrial profit rose 10.3% to 6.64 trillion yuan ($986.37 billion), easing from 2017's 21%.Also Monday, The People's Bank of China (PBOC) set the yuan reference rate at 6.7472 to the dollar, down from a previous fix of 6.7941.Meanwhile, the U.S. dollar index that tracks the greenback against a basket of other currencies was down 0.1% at 95.400.The Fed will conclude a two-day policy meeting on Wednesday and is widely expected to hold rates steady after raising them in December for the fourth time in 2018. The U.S. central bank has indicated that it will hike rates twice this year, but some officials have taken a more dovish tone over the past two months or so, putting the dollar under pressure.The Fed will now also hold a press conference after each policy meeting, a change from the previous quarterly schedule.Meanwhile, the ongoing trade negotiations between the U.S. and China will be in the spotlight as Chinese officials will arrive in Washington on Wednesday to continue talks with the U.S. aimed at resolving the long-running trade war between the two countries.Traders will be watching for any hints of progress as the two sides try to agree on a deal before a deadline on March 1. If a deal is not reached by then, the U.S. could raise import tariffs on $200 billion worth of Chinese goods to 25% from 10%.Elsewhere, the USD/JPY pair was down 0.2% at 109.34, while the AUD/USD pair and the NZD/USD pair gained 0.1% and 0.3% respectively.

‘Forex trading is known to be risky and is poorly regulated, but these risks can be managed.’

Forex is often considered a less-than-salubrious trading environment, where regulations are few and scammers run riot. However, that doesn’t stop the sector growing larger each year. Back in 2016, the Bank for International Settlements reported $5.4 trillion of daily market turnover, and recent estimations put it as high as $7 trillion.Catapulting the growth of the sector is electronic platforms, which have lowered the technology costs, and extreme leverage – sometimes as high as 500 to one – that lures people with ideas of easy riches.Igor Afa, a financial analyst at JustForex and an expert on the forex market, argues that the reports about it being unregulated, while not untrue, have been blown out of proportion.“Forex trading is known to be risky and is poorly regulated, but these risks can be managed,” he says.To begin with, there is the market itself and the forces acting on it. Forex is highly volatile and unstable, which is both a profit opportunity and a source of risk. “If you don’t know the rules or if your strategy is less than stellar – you will lose,” he says.Then there are the brokers. In the same way the odds are rigged in favour of a casino, some brokers rig the odds in their favour. “You need them to trade on the market, but not all of them are good or reputable,” says Afa. “I would suggest you understand the commission structure and ensure that their systems are fast and are able to execute in real time.” There are many tips online on how to choose a good broker, he adds.However true scammers are less of an issue, he says. While investors may fear a repeat of 2009 and a repeat of the Crown forex debacle, this is firmly in the past. “Both the EU and the US are watching brokers carefully now. There are still some who haven’t learned their lesson, but they have been pushed to places like Cyprus or Madagascar.”Despite the fact that the risks are documented, many people fancy themselves as global currency traders. The reason it’s so popular, says Afa, is that you don’t need much money to start trading. It’s possible to begin with as little as $100. You also don’t have to conform to the trading schedule – the market is online 24 hours a day, even on weekdays. This means you can keep your schedule flexible, which is not something that applies to other markets.So, how do you start trading forex?Starting up is as simple as finding a broker you trust, opening a trading account and depositing your starting capital – about $50 will suffice.As for the trading itself, there are many viable strategies. Price Action is an option if you have an eye for patterns and a lot of patience. Afa recommends the ‘lazy river’ scalping strategy. While it’s less profitable, he says, it’s simple to understand and very easy to use.He also suggests picking a currency pair with liquidity. A lot of traders from developing countries opt for local currency, but this is not recommended. The more conventional EUR/USD, GBP/USD and USD/CAD are much better than any exotic pair.What is a demoaccount?A demoaccount is a vital tool for any wannabe trader. Essentially, they are practice accounts, complete with virtual currency. These are ideal platforms to test out new strategies before investing cold hard cash – this is where you learn the terminology, the methods of analysis and some fundamental skills.Ideally one should spend at least a week exclusively on the demo platform. “Only once you end the day completely in the green, should you attempt real-money trading.”What about leverage?This is entirely up to individual traders and their ability to manage risk. Experienced traders prefer 1:100 or, in the sure-fire cases, 1:300, says Afa. Most platforms, JustForex included, will offer richer stakes, such as 1:1000, but personally, this is too risky.What emotional characteristics are required to be a successful trader?

If you panic after a bad deal, you will make other mistakes and eventually lose.

You need patience. As the best forex traders note, it is worth waiting for one profitable transaction rather than opening many positions ‘just in case’.

Enthusiasm is a must. There will be a lot of research and nerd-talk before you get to the actual profits. If you don’t care about the process of trading, you should quit right now.

The euro rose past $1.13 and riskier currencies like the Australian dollar strengthened on Monday as optimism over a breakthrough in U.S.-China trade war talks encouraged investors.The euro has been stuck in a trading range since November as growing weakness in the euro zone economy offsets dwindling expectations the Federal Reserve will raise U.S. interest rates again this year.But after dropping to a three-month low on Friday, the euro has recovered, helped by renewed demand for riskier assets as hopes rose for an end to the U.S.-China trade conflict after both sides reported progress in talks.

Forex traders come in all shapes and sizes. Everyone has their own unique style of trading forex, but it is possible to discern some similarities between successful traders.

There are some distinctive trading styles. Many forex traders are amateurs, playing with a demoaccount from a broker like CMTrading for their own amusement whereas the cream of the crop are consummate professionals whose livelihoods depend on making successful trades. For the purposes of this article, we are going to look at the different types of professional or semi-professional forex traders.

Day Trading
Day traders make short-term trades. They open and close a trade in a single day, which saves them money on broker fees (brokers usually charge a fee when a trading position is left open overnight). Day trading is ideal if you prefer to trade forex during the day and keep your evenings free for other activities. It won't work for you if you have a day job to do - unless your boss is super understanding!

When day trading, begin your day by analyzing the markets and deciding which way your chosen currencies are likely to move. Open positions and then monitor them throughout the day.

Position TradingPosition trading is a long-term forex tradingstrategy. Unlike day traders, position traders hold on to their trades for months or even years. To be a position trader, you need oodles of patience and a good understanding of underlying market fundamentals. You are the type of person who can comfortably predict which way the markets will move in the next year.

Bear in mind that you will need a significant amount of trading capital to be a position trader. Therefore, position trading is not for amateurs. But if you are calm, considered, and willing to play the long game, position trading is perfect for you.

Scalp TradingScalp trading is high octane forex trading. Scalp traders make fast decisions and only open trades for a few moments. Their goal is to make small profits when the markets are busy. Scalp trading requires tremendous focus and you will have to be prepared to spend your trading day staring at charts.

Successful traders don't dither over trades. They have the cool head needed to make instant decisions and carry them out. Scalp trading is not for everyone, but if you are immune to stress, it could be a successful strategy.

Swing TradingSwing trading is another long-term forex trading style, but unlike position traders, swing traders only keep their positions open for a few days. Swing traders look for medium-term patterns and trends. They make traders when they feel there is a high probability that they can make a profit.If you have a day job, swing trading is for you. Use your evenings analyzing market data and take advantage of medium-term market movements.